Jakarta, CNBC Indonesia – The Ministry of Finance is currently preparing a Bill on the development and strengthening of the financial sector or financial sector Omnibus Law. This arrangement is part of the strategic activities of the Fiscal Policy Agency in 2021.
From the Ministry of Finance’s presentation slide received by CNBC Indonesia, there are at least 9 strategic activities or BKF work plans in 2021, and one of them is the Financial Sector Omnibus Law Bill.
In his presentation material, the Ministry of Finance stated that the development and strengthening of the financial sector is one of the factors that can encourage national economic growth. Therefore, this bill is prepared to support the deepening of the financial sector in line with global and domestic developments.
In particular, it is expected to be able to support the financial sector through technological developments and business innovation, as well as the conglomerate structure in the financial services industry which requires strengthening integrated supervision.
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Photo: Minister of Finance Sri Mulyani at Commission XI DPR RI. (CNBC Indonesia / Muhammad Sabki) Minister of Finance Sri Mulyani at Commission XI DPR RI. (CNBC Indonesia / Muhammad Sabki)- – |
The Ministry of Finance has also prepared a budget of IDR 579.9 million to compile the bill. With planning, January-August is the process of collecting and processing data and information and March-December conducting studies and formulating policies.
 Photo: Ministry of Finance.-– |
The urgency for the preparation of the Financial Sector Omnibus Law Bill are:
1. The Omnibus Law is considered as a solution and breakthrough to resolve regulatory barriers that are scattered in many financial services sector laws
2. The draft law on developing and strengthening the financial sector is included in the national legislation program
3. In order to prepare for the drafting of the Bill, an organized academic script is required to be completed immediately.
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